Escalating Middle East tensions cast a shadow over global markets, prompting Indian benchmarks to open in negative territory on Friday. The Sensex debuted at 79,658.99, a 0.45% or 356.91-point drop from 80,015.90. Nifty opened at 24,656.40, down 0.44% or 109.50 points. Early session updates showed Sensex at 79,699.81 (-0.40%) and Nifty at 24,679.30 (-0.35%) by 9:30 AM.
Broader indices displayed strength: Nifty Midcap 100 +0.48%, Smallcap 100 +0.64%. IT index surged 1.23%, providing a counterbalance to declines in auto (-0.60%), FMCG (-0.02%), and banks (-0.85%). This contrasts Thursday’s bullish close, where Sensex rose 1.14% and Nifty 1.17%.
Technical expert Akash Shah from Choice Broking flagged Nifty’s 24,500-24,550 support band and 24,850 resistance. ‘RSI at 37.55 points to gradual bullish divergence,’ he said. Market flows: FIIs net sold Rs 3,752 crore (fifth session), while DIIs bought over Rs 5,000 crore (seventh session).
Navigating uncertainty, advisors stress vigilance and selective buying. Target quality stocks in pullbacks. A decisive Nifty push beyond 25,000 would strengthen bull sentiment, potentially ushering in a prolonged upswing for investors.